S&P 500 rate of earnings surprises the highest since Q3 2021

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A snippet from UBS analysts on US stocks, looking for the strongest quarterly earnings growth in over two year.

UBS acknowledge that earnings season is still ongoing, but so far earnings are beating estimates by over 8% (8.3%) in aggregate.

Q3 2021 was 9.7%, this quarter is the best since then. UBS project Q1 earnings will improve further as more come in:

• “on pace for 9.3%, assuming the historical beat rate of 4.8% for the rest of this season”